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26 September 2008
While the Nation focused on the contentious negotiations over the $700 billion bailout of the financial market a giant oak fell quietly in the forest.The FDIC seized Washington Mutual on Thursday afternoon, and immediately sold their assets to JP Morgan for $1.9 billion.
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17 September 2008
Last week mortgage rates plummeted to a five month low and took the steepest weekly dive in 28 years.Does this forecast a mini refinance boom? Not likely.Lower rates does not mean easier mortgages, this time around.
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4 September 2008
GMAC became the latest in a long line of mortgage business downsizing and closings.GMAC announced on Wednesday that it will be laying off 5000 employees and closing over 200 of its retail mortgage branches throughout the US.
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28 August 2008
The US government and the nation's largest banks have teamed up to stem the rising tide of foreclosures and mortgage delinquencies.However, statistics from July show that it is going to be tough to outpace escalating borrower troubles.
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22 August 2008
It seems the inevitable approaches for the US government and its "supported entities" Fannie Mae and Freddie Mac.Both, moving in tight alignment, have lost over 60% of their market value in the preceding 30 days.Hovering dangerously between $3-$5 a share.
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18 August 2008
In the exuberance of the mortgage boom, it was broadly accepted that home values were moving upward quickly.Were these swiftly rising home values justified? Home owners are beginning to feel the pain of inflated appraisals.In some cases it is even costing them their homes.
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13 July 2008
Choosing where to retire may be the most important decision you'll ever make.Take time to study the possibilities, and you'll never need to look back.
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30 April 2008
Countrywide and GMAC LLC on Tuesday reported big first-quarter losses as they continue to be hurt by credit problems.
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27 April 2008
The head of Goldman Sachs' mortgage department, Daniel Sparks will leave his post for personal reasons, the company revealed on Friday.
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